The independently-owned private equity fund, Clearbell Capital, has been given the go-ahead to build four industrial units at an Aberdeen business park.
All four units — of 100,000, 39,000, 27,000 and 26,000 sq ft — will be speculatively built at The Core, a 100-acre mixed use estate at the Bridge of Don, near Aberdeen. Planned for the entrance to the coastal site they will all include both office and industrial accommodation.
Clearbell partner, Nick Berry, says the two middle-sized units will be the first to go up on a 2.14-acre plot, which will later also contain the smallest building. The 100,000 sq ft factory unit and its surrounding service yard are to be constructed on a separate 2.5 acre site.
“With these detailed consents in hand and infrastructure works complete, there are no barriers to an instant start on the site,” he said, adding that biggest building “is capable of being delivered in around nine months, allowing us to be responsive to the Aberdeen market”.
The four-unit scheme is being marketed by agents FG Burnett, Shepherd and Jones Lang LaSalle. “They are currently in detailed discussions with potential occupiers and we’ve been encouraged by the positive nature of these negotiations,” said Berry.
“In addition to the speculative opportunities available at The Core, there are also design and build solutions on a lease or heritable basis as well as serviced land for owner occupation opportunities,” he added. The park already has planning permission for 1.5m sq ft of development ranging from bespoke office, industrial, workshop, warehouse and leisure space.
Clearbell’s first property fund was launched in 2007 and raised more than £300m through 28 worldwide investors based in the United States, Canada, Australia and Europe. It prides itself on remaining independent from the major banks and institutions and is managed and advised by five partners.
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